I had some freetime so I decided to paint a little bit friday's real time trade. It was a very lucky trade. Entry was off the BB @27546 and then decided to buy a lottery ticket and go through the storm of the news with my little boat.
The red rectangle highlights the start of the news and the subsequent 30 minutes. According to Feb's teachings when facing some important news like friday we should wait for half an hour at least until we see let's say a more clear sky. I did not follow his suggestions intentionally as I said before. I close the trade when I saw the second long red bar retracing. I think someone out there took the all ride worth about 140 pips. I was happy with my 64 pips in about 1 hour trading. Considering the actual EURO situation, I expect we'll have a very interesting week this week too.
I know there a lot of people studying the thread. It's a good investment. Feb has given as the fundamental tools to read the market and build our own strategy. When you feel confident, start posting, don't hesitate. It will significantly increase your learning process. At least is functioning for me.
If you make mistakes, it's human. Don't be scared too much about critics, some are good and some are not. Pay attention, you can recognize them (the bad ones are from the individuals concentrating not on trading but spending their time to criticize without providing any added value and not respecting you efforts). Those are the loosers.
Good trading !
The System II (Yes with irony)
